Market Analysis
GOLD
Gold prices have dropped lower, testing the previous higher low zone. The MACD is showing increased selling volume, while the RSI reflects the same bearish sentiment. This indicates that markets could continue to push lower, as traders wait for the upcoming U.S. economic data release.
Despite the current decline, overall price action remains bullish. If the data suggests further USD strength, gold may face additional downward pressure. However, if the dollar weakens, gold could quickly rebound.
SILVER
Silver prices are consolidating but show a higher probability of moving lower in the coming days. The MACD is increasing in selling volume, and the RSI signals growing bearish momentum.
Further selling pressure is expected, but confirmation is needed before taking a firm position. Price action forecasting suggests waiting for a decisive break before committing to either direction.
DXY (US Dollar Index)
The U.S. dollar remains consolidated, with no clear directional movement as traders await key economic data releases.
Currently, MACD shows increasing buying volume, but price action remains stagnant. This divergence suggests that forex liquidity remains low, and the market is not yet convinced of a strong rally. The RSI remains muted, confirming a lack of strong momentum.
Until a breakout occurs, the dollar remains in a neutral position, awaiting fundamental catalysts.
GBPUSD
The British pound has seen reduced volatility and remains undecided in its next movement.
The MACD indicates rising selling pressure, while the RSI also signals a bearish trend. Recent price action dipped below a key structure, increasing the chances of further declines. However, the overall bullish bias remains intact as long as the market holds above support levels.
AUDUSD
The Australian dollar is experiencing increased selling pressure, confirmed by both the RSI and MACD.
If price drops below the current support zone, selling will likely accelerate, reinforcing USD strength. The upcoming U.S. data releases will play a major role in determining whether the Aussie will continue declining or regain bullish momentum.
NZDUSD
The New Zealand dollar remains above the key EMA200 level, but selling pressure is increasing.
Both the RSI and MACD suggest bearish movement, which could drive the Kiwi lower before any potential rebound. If the EMA200 holds, NZD may remain in consolidation, awaiting further direction from market events.
EURUSD
The Euro remains trapped between key market levels, lacking clear movement in either direction.
The market is currently waiting for a breakout, making previous analysis unchanged. Until a decisive move occurs, the pair remains neutral.
USDJPY
The yen has reached a new low, but selling momentum has slowed.
The MACD remains elevated despite the falling price, indicating divergence and a possible continuation of the bearish trend. The RSI remains high, confirming selling pressure. This suggests that more downside potential exists, making further selling opportunities attractive.
USDCHF
The Swiss franc remains below key resistance levels, consolidating before the next move.
While MACD and RSI are both showing volume growth, their movements remain minimal, indicating a lack of clear trend direction. The market is likely to retest the EMA200 before a potential drop. Until a breakout occurs, patience is required.
USDCAD
The Canadian dollar is stuck in a large consolidation phase, driven by ongoing trade tensions between the U.S. and Canada.
The MACD is increasing in volume, but it is on the verge of a bearish crossover. Meanwhile, the RSI suggests continued buying pressure. Currently, there are more signs of a bullish continuation rather than a decline, but a clear breakout is needed before confirming the trend.
COT Reports Analysis
- AUD – WEAK (5/5)
- GBP – STRONG (5/5)
- CAD – WEAK (5/5)
- EUR – WEAK (1/5)
- JPY – STRONG (5/5)
- CHF – WEAK (3/5)
- USD – STRONG (4/5)
- NZD – WEAK (5/5)
- GOLD – STRONG (3/5)
- SILVER – STRONG (4/5)
Final Thoughts
The USD trading dynamics remain uncertain, as key economic data this week will determine future movements. Gold and silver prices are facing short-term declines, while major and minor currency pairs remain in a consolidation phase.
Traders should closely monitor upcoming data releases, as they will dictate the next forex volatility and spreads across the market.
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